Cooperman says this is likely just a market correction because there is no sign of a recession

Billionaire investor Leon Cooperman says the recent turbulence in stocks is just part of a market correction as there are currently no signs of a recession happening.

“There’s no sign of a trend change,” Cooperman, the founder of Omega Advisors, told CNBC’s “Halftime Report” on Thursday. “You’re just responding to the market.”

“I could be dead wrong, but my position is based on no recession, inflation not a problem, the Fed is far from hostile, bonds are not competitive with stocks, earnings are growing, employment is growing,” Cooperman said.